5:09pm:Australian shares pushed ahead on Monday as a closely watched monthly survey indicated growth in Chinese factory activity is increasing for the first time in six months.

The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index each added 0.6 per cent on Monday to 5453.3 points and 5432.7 points, respectively.

Local shares took a positive lead from offshore after Wall Street closed at record highs again and the spot price for iron ore, delivered in China, lifted 1.5 per cent to $US92.10 a tonne after the local market closed on Friday.

Shares are on track to end the financial year up more than 14 per cent next Monday.

"But top line revenue growth looks set to remain anaemic in 2015, meaning it will continue to be difficult for companies to achieve sustainable earnings per share growth in the next 12 months," Australian Ethical Investment chief investment officer David Macri warned.

In Monday's trade, Australian equities were further boosted by the release of the flash reading of the HSBC/Markit Purchasing Managers' Index for June, which rose more than expected from 49.4 in May to 50.8.

It is the first time this year the index has been above 50 - the level that indicates growth is speeding up - and the highest reading in seven months.

Mining was the best-performing sector, up 1.4 per cent, amid the better demand growth outlook from China. When the ASX closed, iron ore futures trading in China was tipping a more than 2 per cent jump in the spot price.

The biggest iron ore exporter Rio Tinto gained 2.6 per cent to $60, while resources giant BHP Billiton rose 1.4 per cent to $36.45. Fortescue Metals Group, Australia's third biggest iron ore producer, jumped 4 per cent to $4.39, despite New York research house Jefferies downgrading their recommendation from "buy" to "hold".

4:11pm:Australia has been accused of delaying global action on tax evasion by failing to sign an early information sharing agreement as part of its commitment to the G20.

The agreement, part of the OECD's new automatic exchange program, was endorsed by finance ministers at a G20 meeting in Sydney in February.

Australia is chair to the G20 and will lead discussions on tax evasion and profit shifting at meetings in Brisbane in November.

The exchange program will see tax authorities swap private information on bank accounts and other financial assets every year. It is seen as a key reform in the global crackdown on tax evasion.

Australia, which has traditionally taken a leading role in the fight against tax evasion, has yet to sign.

The Treasury is believed to be going slow on the issue in order to have more time to consult with business. It is understood to be concerned about the cost of compliance, especially for Australia's big banks.

A spokeswoman for the minister for finance, Senator Mathias Cormann, declined to comment.

Transparency International, which advocates for greater sharing of information between countries, said it was disappointing that Australia had not yet become a signatory to the program given its leadership role at the meetings.

''It was a bit disappointing that Australia will no longer be an early adopter,'' Maggie Murphy, a senior program coordinator said.

3:06pm:Westpac’s network of regional lenders should be drastically reducedwith up to 60 branches closed so the bank can benefit from substantial cost savings and improve its overall efficiency.

That’s the verdict of JPMorgan’s analysts who are in the midst of a wide-ranging three-part study of Westpac.

In this second instalment, the investment bank argues the regional brands should be confined to their local markets, so St George would be unique to New South Wales, BankSA the dominant brand in South Australia and Bank of Melbourne, which is still pursuing a 100-branch target, limited to Victoria.

They point to the high number of duplicate branches in the Westpac empire. According to their research, 23 per cent of the bank’s branches operate within close proximity of each other, and “nearly half of these duplicate sites are less than 200m from the closest alternative Westpac-branded branch”.

But the analysts point out that every day “a branch is open that doesn’t need to be, it is effectively payment of a ‘call option premium’ in anticipation of better margin or growth outcomes for the group”.

Most of the reduction targets are focused on the St George Bank network with 33 branches recommended for closure in Queensland, eight in South Australia and 12 in the ACT.

JPMorgan calculates the expense savings from the rationalisation could top $450 million and the scale of these changes would force a “radical rethink of the central cost model”.

2:42pm: The Aussie dollar has stayed on its post-China PMI high at 94.41 US cents.

This year's peak was on April 10 at 94.61 US cents, so watch out for some additional "technical" buying around the currency if it goes above that mark.

At this point, it's hard not to see the dollar going up another leg when overseas traders take over this evening, especially with iron ore futures pointing to another big jump in the benchmark price tonight.

2:33pm: Early predictions on the themes that will dominate the upcoming reporting season are trickling in from the brokers' research teams.

Citi strategists Tony Brennan and Vivian Jiang told clients this morning that any nervousness heading into reporting season was not surprising considering the budget, weak iron ore prices and downgrades from retail stocks.

But they reckon it has been a quiet confessions season, reflecting the improved business conditions. However, that may just mean the confessions are running later than usual this year.

“The past couple of months do seem to have been tougher, not just slower consumer spending in Australia but the further slide in iron ore prices and, a bit earlier, disappointing growth in the US and Europe at the start of the year, when the Australian dollar was also rebounding,” the strategists told clients.

“Consensus earnings have been getting trimmed but Citi analysts still see risk of disappointment for quite a few stocks, in areas that are recognised as tough like retailing, media, engineering, and metals and mining, and for some others operating offshore.”

That risk is centred on outlook statement and predicted 2015 financial year earnings.

Citi reckons forecast earnings for the miners could take a hit, although banks may be come upgrades. Overall, the bank is calling forecast market earnings to drop “perhaps a few per cent”.

“For industrial companies, analysts have had fairly strong growth forecast in most sectors in financial year 2015, expecting the long-awaited earnings rebound, after the subdued conditions since the global financial crisis,” the strategists said.

“As the focus shifts to FY15 during reporting season, companies and analysts are likely to be bringing earnings forecasts down, given the current conditions. For the large mining companies, recent iron ore prices are likely to get factored into forecasts more post the production quarterlies, when analysts do their commodity forecast updates.”

The iron ore price will weigh on earnings outlooks for next financial year, reckons Citi.

"It is proposed to progress those discussions in China and Korea by way of meetings to be undertaken later this month/early July," the company said, adding that it "remains committed to the development of the Oakajee Port and Rail Project".

Somewhat surprisingly, some investors are ready to take a chance on the shares, adding 0.05 of a cent - or 16.7 per cent - to 0.35 cents.

After a previously announced deal collapsed (along with the share price), iron ore junior Padbury reckons it has lots of interest in its Oakajee port and rail project in WA.

1:46pm:Gas utility Envestra has confirmed year to June earnings will come in at ‘‘around $150 million’’ which is at the top end of its forecast range, with unseasonably warm weather through the start of winter capping the upside.

That compared with earlier guidance of a net profit of $145-150 million for the year, it said.

The updated figure is before taking into account any abnormal factors, including the impact of any unseasonal weather on gas volumes sold in the final weeks of the financial year.

Envestra has been the subject of competing takeover bids, first from pipeline owner and operator APA Holdings and, more recently, from Chinese investor Cheung Kong group, which is already a shareholder in the company.

Envestra is in dispute with Cheung Kong Industries over the payment of the 3.5c a share final dividend.

Envestra has brought forward the date for paying the dividend until July, rather than the usual payment during August, which could fall outside the Cheung Kong bid period, so that it would not be paid.

Cheung Kong is offering $1.32 a share, which the Envestra independent directors have decided to back.

Telstra is understood to have spent between $40 million and $60 million to buy into SNP Security's back-to-base alarm and security camera business.

The deal will see Telstra and SNP, which is Australia's third-largest security company, form a new subsidiary called TelstraSNP Monitoring that will provide customers with monitored security.

Telstra said it was also investigating the possibility of giving customers the ability to watch their pets at home via video cameras.

SNP's existing tens of thousands of monitored security customers, who purchase CCTV monitoring and alarm systems from the company, will be moved to the new joint venture.

Telstra will own slightly more than 50 per cent of the TelstraSNP Monitoring but its day-to-day operations will largely be managed by SNP staff, Telstra business group managing director Will Irving said.

"The market for back-to-base alarms in Australia is potentially very large because a lot of business use them but only to a smaller degree than we think is possible," he said. "There's phenomenal growth in video technology and the ability to do analytics on video plus a whole range of other monitoring and telemetry.

"I will be the chair of the new entity and Tom Roche SNP Security's managing director will be the initial MD of the joint venture ... It's not a precise 50-50 joint venture."

Telstra customers will now be offered bundled alarm products as part of their existing phone and internet services.

Retailers beware: Households will struggle to up their spending this year if real wages continue to fall.

1:02pm:Households are expected to come under further pressure this year, slashing spending as the unemployment rate rises and the federal budget eats into disposable incomes, a prominent economist says.

The forecast belt tightening comes after a sharp dive in consumer confidence following the release of the Abbott government's first budget in May.

12:39pm:Central banks are planning to cut their exposure to longer-term debt to protect themselves from losses when the Federal Reserve ends its bond-buying this autumn, increasing the risk of instability in global markets.

The majority of respondents in a survey of reserve managers who control assets worth $US6.7tn, or more than half of central banks’ total reserves, said they were likely to adjust their portfolios in preparation of tighter monetary policy.

As the UK and US embark down the path back to more normal interest rates, big changes in asset holdings by other central banks around the world would heighten the risks of market disruption.

The survey of 69 central bank reserve managers, polled in May by Central Banking Publications and HSBC, suggested many have already started to move into riskier assets, such as equities. That trend looks set to continue, with just under half of those polled saying they could envisage buying shares or exchange traded funds. Others said they would cut the duration of their bond portfolios.

As the global economy shows some signs of returning to health, the Fed and other advanced economy central banks, such as the Bank of England, have started to consider tightening monetary policy. The prospect of higher interest rates have raised fears that a 30-year bond market rally is drawing to a close and that prices will fall in the years ahead.

Short answer: no more than most. Long answer: well, it's not something they think about much.

The question of ethics is starting to raise its head among economists, both overseas and in Australia, particularly in NSW. It's an issue the Sydney branch of the Economic Society is likely to start debating in the next few months.

The issue is arising as more economists find ways to sell their services to big business for big bucks. Business is attracted by the status, expertise and authority economists bring, and is willing to pay for it.

Various aspects of conventional economics make economists susceptible to such transactions. Almost all economists believe in the market system and believe that the bigger the economy grows the better off we are. So they have an inbuilt sympathy with business and its objectives.

They believe self-interest is a good thing because it's what motivates a market economy. It should never be a bad thing because it's held in check by countervailing market forces.

And there's a belief among economists that their discipline is ''positive'' rather than ''normative''. It's a ''value-free'' description of how the economy actually works, not a statement of opinion about how it should work.

It's because of this belief that, for example, many economists take no account of the implications of their recommendations for the way income is distributed between rich and poor. That's a ''value'' question they aren't qualified to comment on and so leave to others, such as politicians.

11:28am:Hoyts Group’s stand-alone video-on-demand service has been shelved with the company now due to hold talks with other media groups about collaborating on a streaming product ahead of a $700 million initial public offering.

The mooted video-on-demand service, which would allow consumers to stream films and programs online, had been in the pipeline for nearly two years and was originally flagged to launch in 2013, before being delayed until this year.

But high content costs have led to Hoyts Stream being suspended indefinitely.

It is believed Hoyts is unlikely to push ahead with the project on its own, with management due to meet with other media companies this week about a potential tie-up.

The Australian Financial Review reported that Hoyts had held preliminary talks with free-to-air broadcaster Seven West Media earlier this year.

Australia’s largest private equity firm Pacific Equity Partners owns Hoyts, which operates 43 cinemas across Australia and New Zealand as well as the Hoyts Kiosk DVD distribution chain and cinema advertising business Val Morgan.

Damian Keogh was promoted to chief executive of Hoyts in February after a successful tenure at the helm of Val Morgan and will the lead the company into the IPO, which is likely to take place around November.

The streaming product had been considered a key part of the sale proposition for Hoyts because video-on-demand is a potential growth area with a lack of dominant players in the local market.

Nine Entertainment Co had outlined plans to launch a streaming service to help spruik the company to investors ahead of a $2 billion float in 2013.

11:15am: Hopes of a recovery in the iron ore price could be dashed by reports that a financing scandal has put the brakes on imports of iron ore and copper at key Chinese ports.

Just days after iron ore minnow Termite Resources shuttered its Cairn Hill iron ore mine in South Australia, reports in the Wall Street Journal suggest that banks are examining allegations that a Chinese trading company pledged metal as collateral to more than one lender.

Chinese traders have long used commodities such as iron ore and copper as collateral to borrow from overseas, thus avoiding both China's capital controls and its higher interest rates.

It is estimated that as much as 40 per cent of the iron ore sitting at Chinese ports is being used as collateral, and Goldman Sachs estimates $US100 billion ($106.5 billion) has been borrowed in this way since 2010.

While Chinese banks have been clamping down on the practice of borrowing using commodities for some months – this is one reason the iron ore spot price has fallen more than 30 per cent since the start of the year – the fraud allegations present a new issue.

11:00am: The federal Treasury has entered the debate over cigarette sales, publishing previously secret information that shows sales falling since the introduction of graphic health warnings and plain packaging.

The Treasury collects data on sales per stick in order to levy tobacco excise, but has until now withheld it from publication to protect commercially sensitive information.

Added to the Health Department's website quietly last week amid debate over the effectiveness of plain packaging, the Treasury data shows 3.4 per cent fewer cigarettes were sold last year than 2012. Plain packaging became mandatory on December 1, 2012.

The Treasury data is consistent with national accounts data that shows a decline of 0.9 per cent in the amount of tobacco and cigarettes sold between 2012 and last year. The national accounts show a further fall of 7.6 per cent in the three months to March after the first of a number of big increases in tobacco excise announced late last year.

The Bureau of Statistics bases the national accounts measure on a survey of households, whereas the Treasury collects information on every stick and pouch of tobacco sold.

The Treasury data suggests that, adjusted for population growth of 1.7 per cent, the number of sticks sold per person slid about 5 per cent between 2012 and last year.

The ABS data has consumption of tobacco the lowest ever recorded. Both measures conflict with industry claims that tobacco sales climbed by 59 million sticks or roll-your-own equivalents last year.

The claimed 0.3 per cent increase is said to be sourced from data analysis firm InfoView, although the data behind it has not been released.

Australian Council on Smoking and Health president Mike Daube said the Treasury data was clearly more reliable than unpublished industry figures.

10:47am:Echo Entertainment has signed a deal with two Hong Kong groups to help it develop its proposed casino and hotel project at the Queens’s Wharf site in Brisbane.

The shares are up 3.7 per cent to $3.20 on the news.

Echo told the ASX that it has signed a binding memorandum of understanding with Chow Tai Fook Enterprises and Far East Consortium that will see echo contribute 50 per cent of the capital to the development of the project under a long-dated gaming operator agreement.

CTF and FEC would then contribute 25 per cent each, and will also jointly take on the residential and “related” component of the broader Queen’s Street Wharf project.

It is expected the development will have a $1 billion project cost. Echo’s great rival, James Packer’s Crown Resorts, has also been shortlisted by the Queensland government as a bidder for the project.

Echo already operates casinos in Brisbane and on the Gold Coast, but it is limited in how if can redevelop its Brisbane property, which is housed in a heritage-listed building.

“Echo is delighted to work in partnership with two significant Asian-based partners and the government to develop and submit and proposal for the Queen’s Street Wharf site, which will deliver major investment in tourism infrastructure including a world class integrated resort to Brisbane,” Echo chief executive Matt Bekeir said in a statement.

The deal would appear to reduce the number of rivals Echo faced in the race to win the Queen’s Street Wharf by one, as CFT and FEC had been shortlisted as a bidder for the project by the Queensland government in late May.

10:38am: The boss of supermarket giant Wesfarmers has backed fresh calls for bigger cuts to made to the corporate tax rate, amid concerns that living standards and jobs could be at risk if Australia continues to fall behind Asia and the developed world in attracting big business.

The corporate tax rate, at 30 per cent, has not been changed in 14 years and is now higher that the 24 per cent average of members of the Organisation for Economic Co-operation and Development (OECD).

Richard Goyder, chief executive of Wesfarmers, which owns Coles and chair of the B20 advisory group, said Australia risks putting its business and economic credentials at risk by not being more competitive on tax.

"If Australia's tax rate is uncompetitive and it's increasingly uncompetitive, then capital will flow to other markets and we won't get the investment in productive assets that will improve economic growth and the creation of jobs and wealth creation in Australia," he told the Nine Network's Financial Review Sunday program.

He added that while the majority of Wesfarmers' business was Australian based, the company would need to look offshore if it's to continue to grow.

"The jurisdictions off shore that will be attractive to us will be ones where there's economic growth and an attractive investment criteria around tax rates," said Mr Goyder.

Former Coles boss Ian McLeod, who will soon take up a new strategic role at Wesfamers, has previously indicated that expanding offshore was an option for the company.

10:00am: May data confirmed that China's economy is beginning to accelerate this quarter after a sluggish first three months, writes JP Morgan’s Stephen Walters, ahead of an early indicator of factory activity out late this morning.

As a result, manufacturing investment slowed in May to the weakest pace since November 2006, real estate investment decelerated back to its weakest pace since August 2012, and house prices reported the first sequential decline in two years. Whether the sources of lift are sufficient to offset these intensifying drags remains the biggest uncertainty faced by the Chinese economy.

This week's June flash PMI is expected to improve just modestly but remain below 50, tracking our forecast for a still-soft 6.8% annualized real GDP gain this quarter. Despite these modest disappointments on growth, policy is likely to stay status quo: no substantial easing but instead a reliance on targeted and fine-tuned pro-growth measures.

9:46am: The head of the consumer watchdog has warned that competition policy needs to be reinvigorated, with governments increasingly failing to make competition central to the privatisation of public assets.

As a result, the federal government needs to ensure the present review of competition policy, the so-called Harper review, is used to both strengthen competition policy as well as to help reinvigorate so-called ''micro-economic reform'', ongoing changes to government policy to revitalise the economy.

''Australia has lost a lot of its pro-competition culture that it gained from the 1990s National Competition Policy. Clearly we need 'Hilmer Mark II', as the current Harper review is styled,'' Australian Competition and Consumer Commission chairman Rod Sims will say at Monday's State of the Nation Conference organised by CEDA.

Effective competition policy depends on using competition and other incentives to boost productivity, effective competition laws and creating processes and institutions that continually foster competition. In particular, the present approach to the privatisation of public assets raises particular concern, Mr Sims will say.

''Where governments are increasingly failing is in how to privatise,'' Mr Sims will tell the conference.

9:28am:Australia is forecast to be among the three fastest-growing economies in the developed world this year, making it harder for the central bank to convince currency investors it isn’t about to raise interest rates.

The RBAmust differentiate itself from its counterparts in New Zealand and the UK, which have signalled their economies may need higher borrowing costs, according to Westpac.

Australia’s record-low benchmark rate hasn’t stopped foreign-exchange markets driving its dollar up 1.8 per cent in the past month, the best performing Group-of-10 currency ahead of the kiwi and the pound.

Gross domestic product will expand 3.1 percent in 2014, according to economists surveyed by Bloomberg News from June 12 to June 17, up from a previous forecast for 2.8 percent. New Zealand is predicted to grow 3.2 percent and the U.K. 3 percent.

“There’s a huge amount of investment that’s going to fall away in the second half of this year, something that the UK and New Zealand don’t really share with Australia,” said Michael Turner, a debt and currency strategist at Royal Bank of Canada. “If they want to be credible on any kind of jawboning on the currency, they’re going to have to shift back toward an easing bias,” he said, referring to the RBA.

“What we saw in the minutes was the beginning of a debate within the RBA to talk to the uncertainties -- which is their word -- of how much low rates were working to support domestic demand,” Westpac’s Rennie said. “We are going to see further concerns of that expressed in the July 1 policy statement.”

It is believed United States media investor Providence Equity Partners has begun running the numbers on a potential bid for Ten's equity and debt in a move likely to be encouraged by the company's board and management.

Sources close to the process said the company behind MasterChef Australia and Offspring had retained long-term adviser Citi as well as legal firm Gilbert + Tobin to provide the commercial network with strategic advice.

Providence executives visited Australia earlier this month to meet media companies including Ten, which reported a profit downgrade on Wednesday.

The sources said Ten directors believed the embattled company would stand a better chance of surviving if it was "taken private". Ten's weak ratings and revenue over the past four years have left it open to an opportunistic bid by parties who believe there is still value in the third commercial free-to-air licence.

While contact between Providence and Ten was described as "preliminary", the sources said there "was a lot of work going on behind the scenes with a number of parties to try to make something happen at Ten".

Key catalysts for a formal bid include changes to the media ownership laws that would make it easier for Ten to merge with a regional affiliate or rival company, as well as new program supply deals.

9:13am:Metcash’s net profit fell 17.9 per cent to $169.2 million as the food, liquor and hardware wholesaler embarked on a five-year transformation plan aimed at reversing a drop in grocery earnings and securing the long-term future of independent retailers.

Underlying group net profit fell 10.9 per cent to $250.1 million in the 12 months ending April and underlying earnings per share fell 13.2 per cent to 28.3¢, in line with the company’s 13 to 15 per cent guidance in March.

Group earnings before interest tax and amortisation fell 11.7 per cent. While earnings from liquor distribution, the Mitre 10 hardware business and automotive rose, earnings from the core food and grocery distribution business fell 19.5 per cent as it struggled to maintain sales and margins were squeezed by higher costs.

The bottom line result included one-off costs of $54.0 million and a $10.5 million charge for discontinued Franklins stores.

Metcash cut its full-year dividend by 33.9 per cent to 18.5¢ a share, in line with a strategy to preserve cash to reinvest in price reductions, stores and supply chain restructuring. Its final dividend was cut from 16.5¢ to 9¢.

9:03am: Analysts expect Metcash today to report a 14 per cent fall in underlying earnings per share to 28¢ and underlying net profit to $231 million, in line with the company’s 13 per cent to 15 per cent guidance in March.

While earnings from liquor distribution, the Mitre 10 hardware business and automotive are expected to rise, earnings from the core food and grocery distribution business are expected to fall about 21 per cent as the division struggles to maintain sales.

JPMorgan expects food and grocery margins to fall 91 basis points to just 3.23 per cent – less than half those at Woolworths – because of operating deleverage, higher operating costs and gross margin compression from reducing inventories.

Metcash is investing about ­$40 million in reducing grocery prices by about 3 per cent to make the IGA network more price ­competitive with the major chains.

Metcash is hoping that lower prices will drive higher volumes and help independents regain market share.

Analysts say this move is a step in the right direction.

However, Deutsche Bank has estimated that every 1 per cent reduction in price would reduce Metcash’s food and grocery earnings by about $122 million.

Quotes Search

"There's a new housing estate outside a Queensland mining town substantially owned by geared SMSFs thanks to the diligence and sales drive of real estate spruikers.

The value of the housing has fallen by 30 to 40 per cent and rents are plummeting as well."

Housing boom!

Commenter

Allan

Location

Prahran

Date and time

June 23, 2014, 5:02PM

"In a couple of years, especially in areas like Docklands, the CBD and Southbank, where there are 300 to 500 multi-storey apartment projects, there is huge supply coming, which will be increasingly difficult to fill.”

Housing boom!

Commenter

Allan

Location

Prahran

Date and time

June 23, 2014, 4:51PM

"Melbourne house prices will not grow fast enough to beat the rate of inflation over the next three years, according to BIS Shrapnel."

Housing boom!

Commenter

Allan

Location

Prahran

Date and time

June 23, 2014, 4:50PM

Imho ignore the "financing scandal has put the brakes on imports of iron ore and copper at key Chinese ports."

Mining stocks are about to run with the recent big rises in the Dalian futures.

AORDs heading towards 5600 full-steam

Commenter

Goldman

Location

Date and time

June 23, 2014, 4:29PM

Resources were the main driver of the market today, but with the AUD up a lot as well most of the gains in commodities would have been offset.

nice i added to CAJ on friday at 44c. not much volume today. hopefully the quiet before the storm.

Commenter

CAJ

Location

to 60c

Date and time

June 23, 2014, 2:59PM

BSB, with that last trade, and assuming your brokerage is $20, that's about 4% of the cost. Is it worth it when brokerage is that high a percentage?

Commenter

Gareth

Location

Sydney

Date and time

June 23, 2014, 4:10PM

@gareth mopped up free $ in trade acc and adding to a position of 5500 shares =$1.73 already so overall with divd at 6% im not phased by brokerage in the big picture.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

June 23, 2014, 4:17PM

Comment @2.05 pm - Padbury Mining

Looks like the dodgy brothers are up to their usual tricks in Geraldton, WA.

Many self made millionaires with influence who love a punt in this region.

Will not be surprised to see another big run on Padbury, only to die a natural death.

This Oakajee Port has been on the drawing board since Adam was a boy, think I bought my first speculative shares in a related iron project in 1982.

It will never happen while I am on the planet!

Commenter

Gero Boy

Location

Date and time

June 23, 2014, 2:34PM

yep agreed GBshort oakajee n long hydro marijuana

Commenter

mushy

Location

Date and time

June 23, 2014, 4:07PM

sounds like you know my home town very well @ mushy....

Commenter

Gero Boy

Location

Date and time

June 23, 2014, 4:16PM

So Basfoods is "hit" with a fine of $30,600. Gee, that was worth it. Crime does pay!

Commenter

Panhandler

Location

Date and time

June 23, 2014, 2:29PM

Watching Sky Biz and as usual they are all telling us our market is awaiting news. We receive good news and our market goes up only to be back down to where it was an hour later. What a waste of time and breath. What's that your saying. I could have sold CBA for 12cents higher made $200.00 and paid 4000.00 tax. Fantastic.

Commenter

Richard

Location

Sydney

Date and time

June 23, 2014, 2:16PM

Yep. Good news from China market goes nowhere Bad news from China mark goes down 100 points three times in the last 12 months..

Commenter

Peter

Location

Sydney

Date and time

June 23, 2014, 2:25PM

Excerpt from GXL Entitlement offer:This is a letter to inform you that you are not an Eligible Retail Shareholder (as defined below) for the purposes of the Retail Entitlement Offer. This letter is not an offer to issue New Shares to you, nor an invitation to apply for New Shares. You have been identified as a meany to your dog/cat/budgie and therefore are unable to participate until either:you take ...... for walkies and an ice cream. Buy ..... a new toy and comfy bed.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

June 23, 2014, 1:56PM

Someone is working a monster BUY order on Newcrest today. Gold was off, it was sold down, then there has just been $100k to $200k buys coming one after the other all day. Resistance is futile.

Commenter

Slack

Location

Date and time

June 23, 2014, 1:38PM

Nice spot. Whats going on here panick selling or brave buying?

Commenter

NCM

Location

always dissapoints

Date and time

June 23, 2014, 2:04PM

Looks like long term institutional buyer increasing their weighting. Not a lot of short term information signal I don't think. Once they stop the price should come back down a bit.

Commenter

Slack

Location

Date and time

June 23, 2014, 2:11PM

It's not just Newcrest and not just Australia.Volumes are up. We'll soon find out if it's just short covering or a rally.

Central Bank money printing could be shifting to a rally in commodities as there's little growth left to squeeze out of other equities and cash strapped highly mortgaged consumers.

Commenter

nolongerconfused

Location

Date and time

June 23, 2014, 2:20PM

@1127 chart...what bout ACR?

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

June 23, 2014, 1:33PM

To all CBA fans...shame shame CBA "The Commonwealth Bank repeatedly ignored evidence of an alleged $100 million fraud that implicated its own staff, and instead, seized the homes of victims in a bid to recoup its losses."

Property still out of control. $700k for a 1 bed, when it this market going to flatten out?!?

Commenter

Irish Phil

Location

Date and time

June 23, 2014, 1:10PM

700k seems like an eye popping figure but because of underinvestment in public transport , especially heavy rail to the 'burbs, we have the natural consequences of our actions. If you value your time and want to save 3hrs commuting per day, ( say if you live in Galston NSW and work in the Sydney CBD ) A one bedder at that price seems like good value.. say your time is on average 100 ph that is 300 per day.. what can you buy these days that returns that.

Commenter

Lean Too

Location

Date and time

June 23, 2014, 1:47PM

$700K to have extraordinary views of the best harbour in the world within spitting distance of the botanic gardens and sydney beaches. good buy me thinks.all the wealthy are buying up in sydney pushing all the poor down to melbourne.

Commenter

smilingjack

Location

Date and time

June 23, 2014, 3:25PM

Can someone explain to me why volumes as low as 1 share can be traded on a stock which price has not moved since open? wouldn't the brokerage fee negate this practice?

Commenter

Confused

Location

Date and time

June 23, 2014, 12:53PM

I once ended up with 1 share in RIO, still not quite sure how that happened.Ended up having to sell it as a single share. It does happen occasionally I guess.

Commenter

Irish Phil

Location

Date and time

June 23, 2014, 12:58PM

good question, it is common, are some traders, brokers exempt from brokerage?

it doesn't make sense to buy 1 share to me!

Commenter

curious

Location

Date and time

June 23, 2014, 1:05PM

VWAP and POV algos slice a client order into little parcels over the course of the day. If the original client order is small and the algo isn't great, you can see 1 share slices go to market. The comms structure is different for institutional clients.

Commenter

Slack

Location

Date and time

June 23, 2014, 1:10PM

Al's trading in that stock?

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

June 23, 2014, 1:37PM

you are on to it @BSB...lol

ps - nice little jump up with RIO today,

Commenter

cyril

Location

Date and time

June 23, 2014, 1:48PM

Brokerage costs can very little for brokers and high volume traders.

It is probably computer trades, just testing, testing, or exploring market price for a share.

It could be a typo, it could also be a share someone had in their portfolio after dividend investment plan went through, after they had sold their main holdings.

Commenter

me

Location

sydney

Date and time

June 23, 2014, 1:49PM

Two types of algos: Prop algos which try to buy and sell to make money intraday like Optiver or Quantlab, and Agency algos run by investment banks which just help the traders work orders. VWAP and POV client orders will be from super funds wanted to buy and sell without smashing the market. These agency algos are the ones that slice small quantities to market. So yes, a computer trading, but not a predatory one.

Commenter

Slack

Location

Date and time

June 23, 2014, 1:50PM

yep. very strange. 3x today 1 share has been traded and one at 42 shares at 40c?

Commenter

Confused

Location

Date and time

June 23, 2014, 1:55PM

Whats the deal with iron ore stocks? bull trap? or is this a case of they know something we don't?

Commenter

ARI, FMG up

Location

5%

Date and time

June 23, 2014, 12:35PM

did you read need to know this morning?

Commenter

teacher

Location

Date and time

June 23, 2014, 12:46PM

FMG oversold on scaredy cat emotion.....support at 3.90-95 confirmed,macds still bearish,good volume and about time for a rally....could be short lived so a short and a long position would not be unwise.buy in around 4.15 not bad entry..was going to swap outta RIO for FMG but decided to hold for $60 north [RIO] hands tied.Day trade play also an option if ya can pick it like the big boys.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

June 23, 2014, 12:52PM

Iron ore up over the weekend which drove the first lift this morning, but futures trading at around 11:30am for the SCI Jul 31 @ SGX is up 1.90% extra at 94.63. This is indicative that the ore price will rise again overnight, which is driving the second run up into the 4.40s.

Commenter

Slack

Location

Date and time

June 23, 2014, 1:01PM

Yep. I would be more inclined to short it from here back down. Reading the need to know section investing reactively is a real dumbass approach by the way. thanks BSB and slack, I think I wll remain bearish at this point, possibly a case of selling off too quickly, may get a decent bounce but after that its anyones guess again.

Commenter

ARI, FMG up

Location

5%

Date and time

June 23, 2014, 1:11PM

to Slack : How do you get the SCI Jul 31 figures on the SGX??

A link would be appreciated....

Commenter

mirage

Location

Date and time

June 23, 2014, 1:21PM

as dumb ass as it may be, that is indeed the answer to your question, it certainly is not the way i invest, but I wouldn't be shorting FMG at this low price either!

Commenter

teacher

Location

Date and time

June 23, 2014, 1:30PM

I subscribe to Singapore Futures data from SGX (it's available via Interactive Brokers) for a small fee a month.

Commenter

Slack

Location

Date and time

June 23, 2014, 1:46PM

On 7 June 2013, Newcrest informed the market that it would:downgrade its forecast FY14 gold production;write down all of the $3.8bn of goodwill on its balance sheet;impair the carrying value of its mining operations by a total of $2.2bn; andnot declare a final dividend in FY13.Will the corresponding downgrading by the early informed brokers hold them to account as well....surely ASIC must pursue them for using the information and more than likely changing their own positions/holding in the company prior to the 20% torpedo taken by everyone else. Be a long process and i see there's no class action against the brokers?.......aww its ok you guys are neutral parties aren't you....yeah righto.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

June 23, 2014, 12:30PM

Assets go up over time.A nice sort of Monday just before the end of our financial year. Very impressive.

Commenter

It's All About Making Money

Location

Lennox Head

Date and time

June 23, 2014, 12:22PM

Thought I would start up and old debate. What is everyone's thoughts on elders? Have they turned the corner. Their last set of financial results showed some signs that they were.

The share price has been making a bit of noise lately as well. Anyone have any objective opinions on the stock?

Cheers

Commenter

SI

Location

Date and time

June 23, 2014, 12:12PM

Hi,I read some news articles after they announced last month some small profit and looked at graphs, etc. Their P/E is really low and very tempting. I ended up buying a relatively small amount of shares at 13.5c, so that even if they further south, I won't be hurt so badly. I think they have already hit the bottom and the most likely way is up (I hope). I think a small investment is not a bad idea. I am not sure how objective my opinion is though.

Commenter

P2

Location

Jerra

Date and time

June 23, 2014, 2:54PM

That AU$ currency play was sooo seethrough..heres the date for china pmi...ok sell it down prior then position for 1/2c kick up if pmi50 and bang another $$$$$$$$ for those in the know...wheres that nab guys ph number.....

Commenter

BearshapedBull

Location

Missedt he Boat Lounge

Date and time

June 23, 2014, 12:00PM

ACR finding support level ^1.00 lately nother 10% today good volumes and still no news.....catch the falling knife,now a flying kite.

Commenter

BearshapedBull

Location

Missedt he Boat Lounge

Date and time

June 23, 2014, 11:52AM

The Aussie market is too small for fundamental analysis alone.. in this day and age it is too easy to collude,.. just a chat over details in the queue for coffee is sufficient and bingo a nice little earner that ensure targets met , the proceeds into bonds , and pop the Bolly on Friday arvo.

Commenter

Lean Too

Location

Date and time

June 23, 2014, 1:37PM

"Tesla now most important automaker in world" - Morgan Stanley

Commenter

Fred

Location

Date and time

June 23, 2014, 11:38AM

They are on fire, so to speak. Damn those lithium batteries.

Commenter

Panhandler

Location

Date and time

June 23, 2014, 12:38PM

A far lower rate of fires than happens with good old combustion engine cars.

Commenter

Shannon

Location

Melbourne

Date and time

June 23, 2014, 3:57PM

Hidden in the story ..."Going for a seachange won't make you money" is the bombshell that in "Melbourne Council area ... almost 20 per cent of house and unit re-sales generated losses.".I guess that would mostly be those Docklands units going Kaa-BOOM. No mention if the analysis includes transaction costs, so I guess not. Read more: http://www.theage.com.au/money/going-for-a-seachange-wont-make-you-money-20140619-zset7.html#ixzz35Q6LTUdS

Commenter

Engineer

Location

Scam City

Date and time

June 23, 2014, 11:12AM

I am not a short trader. but enjoy logging into my super account each week to watch it grow. USA Economy is getting Better, Europe could be better but it wont go backwards.Re- Iraq situation, well some Arab countries should be getting of their fat butts and do something .Arab league...lol

Commenter

Drop bear

Location

Date and time

June 23, 2014, 11:03AM

Sorry to be a killjoy, but the US economy is hardly getting better. Quarter 1 saw the economy contract. Meanwhile the debt is ticking every higher, US government debt now at 17.5 trillion with no solution for even getting the budget in balance. Moreover, real danger ahead as ever more countries and companies are switching away from the US dollar. A couple of days ago the UK and China agree to start exchanging their currencies, thus switching trade away from dollar.

Commenter

Dr No

Location

Sydney

Date and time

June 23, 2014, 11:39AM

Its Because the USA NOW has oil. And the Saudis are pissed off. Who is financing this ISIS?

Commenter

JimmyJ

Location

Date and time

June 23, 2014, 12:43PM

Australian credit card debt rising again ... and so are credit card defaults.

Commenter

Dr No

Location

Sydney

Date and time

June 23, 2014, 11:02AM

BNO trading halt for news of a significant commercial transaction.........found a partner for sure,should help better than the last trading halt re clinical trials -40% in 30secs scenario

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

June 23, 2014, 10:56AM

With EOFY fast approaching who is expecting a big rally fri/mon to get the FUM up?

Commenter

Wwwish Lion

Location

Melbourne

Date and time

June 23, 2014, 10:56AM

Wonder how Gina will take to PE firm grabbing Ten ?

Commenter

Two seats needed

Location

Illawarra

Date and time

June 23, 2014, 10:56AM

Getting increasingly worried about SBM, recent increase in gold price but another new low of 11 cents this morning. Will it survive or is it destined for the scrap heap!

Commenter

panic merchant

Location

Date and time

June 23, 2014, 10:43AM

This stock has burnt many. Its only reacting due to speculator activity, as soon as the IRAQ headlines die down it will smash through another floor due to panicked selling, gamble if you must, but thats all you will be doing.

Commenter

Say no to

Location

gambling.

Date and time

June 23, 2014, 10:55AM

Basket case status with the gold price rally and news of buying interest gathering for shiny things....its a long road down and i have looked and studied them only to watch the trend continue...what will turn it around im unsure there is a solution.

Commenter

BearshapedBull

Location

Missedt he Boat Lounge

Date and time

June 23, 2014, 11:57AM

Best start to the week for a very long time!

Sunshine & smiles guys 'n gals.

Commenter

Bodacious

Location

Date and time

June 23, 2014, 10:34AM

Shsssssshhhhhh! Not too loud!

Commenter

Gumly

Location

Mackay

Date and time

June 23, 2014, 10:54AM

Friday of last week from memory down 48 points.

Commenter

Richard

Location

Sydney

Date and time

June 23, 2014, 2:20PM

Some food for thoughtASX200 for FinYear July 1 2013 4710pts to 5468 June 20th = rise of 16.09%ASX200 2nd jan 2014 5368pts to june 20th 5420pts diff = 52 points or 0.9678% kickass, what a joke.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

June 23, 2014, 10:23AM

'Bull. The ASX actually went down in the first half of 2013 (ie, Jan to June) so it has done BETTER this calendar year.

Commenter

Gumly

Location

Mackay

Date and time

June 23, 2014, 11:21AM

blah tried to jump onboard TON but missed the sailing by 5c....gone up 22% outta the blocks.....in 10mins

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

June 23, 2014, 10:12AM

Wait a while. It will settle back down again over the next few days has already dropped from 33% today down to 23%. Might lift up again later, but will drift down over the next few days.

Commenter

confused

Location

Date and time

June 23, 2014, 10:47AM

Is graphite the new gold for day traders.

Commenter

mitch of ACT

Location

Date and time

June 23, 2014, 11:13AM

@mitch/confused Could be a more long term play for those future proofing...i was tracking them and did research looked good for a dive in...but seems many others had same idea and overbought but good announce today driven the exuberance...one to watch and possible entry into 30s range if there again.i was looking at a 6-12month hold and accum.

Commenter

BearshapedBull

Location

Missedt he Boat Lounge

Date and time

June 23, 2014, 11:50AM

This was one of my "rush of bubbles" buys and I bought right at the top of the last up peak, and then watched it go right back down again. Don't really mind as also holding long term now and hoping for great things. Yes, I think Graphite is the new gold....for now....

Commenter

confused

Location

Date and time

June 23, 2014, 12:49PM

Any ideas out there on the best way to take short positions on a US listed fad stocks like battery car maker Tesla?Even with the help of silly emissions regulations, this one can't defy gravity and the laws of thermodynamics for much longer, but I can wait 12 months to crash back to earth.

Commenter

Engineer

Location

Scam City

Date and time

June 23, 2014, 10:09AM

fad.http://www.fiaformulae.com/I dont think so.

Commenter

smilingjack

Location

Date and time

June 23, 2014, 10:51AM

I am curious how you think it is defying the laws of thermodynamics?

If it's a real product is doubt that is the case. Seems more likely you are just blowing hot air.

Commenter

Jimmy

Location

Date and time

June 23, 2014, 11:16AM

Jimmy, Jack and Fred ...

Tesla claim to be “zero emissions” which of course is a nonsense. The power that is used to charge the batteries is generated with emissions. I guess you’ll say it can be charged with renewables or 100% green. True. Just like I can also buy carbon offsets to go 100% green with my petrol car. Then there is the batteries. A huge amount of energy is embedded in their production and how long do they last? Five years if you’re careful.

Tesla is in business because of this myth of zero emissions…. Last year it was supported by senseless California zero-emission vehicle credits of $67.9 million and “other regulatory credits” of $17.1 million

The idea that you can race these just convinces me more that it is a fad. That and the companies P/E ratio of over 200 and a market cap that exceeds $1M for every car they ever sold!

The current stock price is around US$230. I ‘d be happy to enter into a small Contract For Difference for a thousand shares in 12 months time. I pay you the difference if it is over, you pay me if it is less. Any takers?

Commenter

Engineer

Location

Scam City

Date and time

June 23, 2014, 12:49PM

The "Zero Emissions" tag refers to tailpipe emissions. It is no more misleading than the l/km sticker on a petrol car recording petrol usage and not the amount of crude oil required to make that petrol and the energy to transport & refine it.

I have no particular opinion one way or the other on the finances of Tesla Motors but as an engineer I am certainly excited by some of the technology they have in development.

Your claims about batteries are of course true, however battery technology is improving at a much greater rate than the technology around fossil fuels. It seems entirely likely that in the future they will be a successful product. You are comparing a consumer product with more than 100 years of intense development against a product that is in it's infancy. Of course the raw stats are going to favour the mature product. For now.

And you still never said what on earth any of this has has to do with the laws of thermodynamics?

Commenter

Jimmy

Location

Date and time

June 23, 2014, 3:18PM

"A landmark Senate inquiry is expected to call for informants who expose corporate wrongdoing to be rewarded and for the launch of a dedicated office for whistleblowers."

Employment boom!time to tune up

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

June 23, 2014, 10:08AM

Confusing 'weak' for 'week' in your headline. Please correct.

Eds: Thanks Peter, updated now. Chrs

Commenter

Peter

Location

Sydney`

Date and time

June 23, 2014, 9:51AM

I feel more confident of my buy into UXC after their market update 18th june and also this article:http://www.afrsmartinvestor.com.au/p/new-investor/beaten_down_uxc_bargain_9LxwgvDA7Wfn01fu6NfHjPfeeling like adding to position a current pricing.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

June 23, 2014, 9:50AM

What are people's thoughts on buying Australian government bonds?

Commenter

Fred

Location

Date and time

June 23, 2014, 9:26AM

Australia's going broke..I wouldn't touch them. Only thing I'd be confident in buying are global commodities. At least you are then worth X ounces of YandZ or X barrels of oil no matter what happens to our sham economy AND DOLLAR.....What if our dollar goes to $2US? What happens if our dollar goes to $0.50US?...Both feasible when governments meddle as they have for years now..... Just my opinion though Fred.

Commenter

JohnBB

Location

Date and time

June 23, 2014, 11:15AM

Conservative, don't carry any but as a % of a balanced portfolio cant see a problem."Negative thinking is a conditioned process whereby the negative patterns are established over and over.Associate only with positive, focused people who you can learn from and who will not drain your valuable energy with complaining and uninspiring attitudes."

Commenter

BearshapedBull

Location

Missedt he Boat Lounge

Date and time

June 23, 2014, 12:07PM

@BearshapedBull...Or...Think for yourself and don't be swayed by people that are irrationally positive about an economy that's completely broken.

….””We can tell you point blank that foreign investment is 4.6 per cent of the entire residential platform.”….We all know that's 100% untrue....Have an audit so there's no doubt.

Where's the accountability of the ministers and FIRB? Isn't someone responsible?

Commenter

JohnBB

Location

Date and time

June 23, 2014, 9:14AM

Apparently not JBB.. rampant disregard for the rules.. and lip service to those who are concerned..I think the last time the FIRB had anything to say about foreign investment it was to protect GrainCorp.. so unless you are a large vested interest with buckets of money you will not get much shrift with them

Commenter

Lean Too

Location

Date and time

June 23, 2014, 9:38AM

The whole point of foreign investment is to keep things humming along in real estate now that the locals have lost interest. It keeps people in jobs, stops a potential crash, and keeps the stamp duty flowing into the coffers. It's a dangerous way of pushing the inevitable down the road, but no more or less dangerous than other false economic stimulators. Eventually all our properties will be foreign owned and we'll all be renting. But by then, the perpetrators (successive govts) would have enjoyed their day in the sun and would have retired on pensions and probably all living overseas anyway.

Commenter

Gareth

Location

Sydney

Date and time

June 23, 2014, 10:04AM

The FIRB isn't interested in some Chinese Family buying an over inflated property for $1 million. (Would you buy a foreign property that could be repatriated years later because you didn't get permission?)

Sure because house prices are a national past time, its politically expedient to try reassure everyone that the government is keeping a beady eye on them. But don't expect the department to pay much more than lip service. :o)

Commenter

Peter

Location

Oz

Date and time

June 23, 2014, 10:22AM

Although the figure for foreign investment is quite low. They tend to all want to buy in the same area, which in turn has really put a rocket up the most peculiar places in Sydney. It is now more expensive to buy a 2 bedder in North West/West than Eastern Suburbs in some cases. But how cares about the beach when you can not swim right?! I have nothing against it, but without even giving a second thought I know it to be a terrible investment choice to compete against that type of madness in my area, no point even turning up to auctions. Hey my lovely neighbours are happy though so hats off to them. Happy trading!

Commenter

Living next door to..

Location

Millionaires?!

Date and time

June 23, 2014, 10:40AM

there are nearly 1.5 billion chinese living in china and at least a couple of hundred million living outside china. India is not far behind. the next biggest is the USA with a smidge over 300 million. Its inevitable that the bulk of the world will eventually be of asian decent and country borders will cease to mean much. the rich will always get access to where ever they want. $1.6 million for a weatherboard cottage on a tiny lot in northcote over the weekend. nuts.

Commenter

smilingjack

Location

Date and time

June 23, 2014, 10:59AM

@Lean Too...Agree...

@Gareth...Exactly...We're creaming it for what it's worth now while leaving our kids a basket case...Utterly unfair and entirely sanctioned by both parties. One pretending to be left while selling our future out...

@Peter...."Would you buy a foreign property that could be repatriated years later because you didn't get permission?"....That's how many people would like to see it unfold. The only reason Australians are losing interest in housing is it's too expensive...because of foreign investment...A circular argument.

Commenter

JohnBB

Location

Date and time

June 23, 2014, 11:00AM

@Living next door to.. Yep...They're not silly...Been to the slow moving car park in the east?...All the infrastructure money's being spent in places, guess where? Hurstville, Revesby, Strathfield....So, again, anyone. How does this benefit existing Australians? Fewer homes, higher prices, more congestion. Make this and population growth BEFORE INFRASTRUCTURE THE election issue. Sydney's choking. Baird offers infrastructure that would have been adequate 10 or more years ago. Since then Australia's had about 5 million more people added; and he'll be voted for again? Joking.

Commenter

JohnBB

Location

Date and time

June 23, 2014, 11:10AM

@smilingjack...Agree 100%...However, we are still a democracy and can vote to stop it...It'd be very stupid not to. BTW, I couldn't care what we end up being race wise...For me it's all about the numbers. Too many people both here and globally. It's the biggest problem times 1000, never talked about.

Commenter

JohnBB

Location

Date and time

June 23, 2014, 11:39AM

That carpark JohnBB is due to Meriton offering 2+ car parks for every unit built, but yes no real change in public transport for the area. I believe light rail up Burke or the other street running parrallel could fix up thos choke points. That said i would still classify that area west (Waterloo). Im talking about how a 2 bedder in Coogee, which has best run of traffic in Sydney, compared with 2 bedders in Ryde, nothing more than urban suburbia, with a dirty river an hour from the beach at best a golf course.

Commenter

Living next door..

Location

Millionaires?!

Date and time

June 23, 2014, 11:45AM

Keep it on the down low,@living next door to..Our prices here will remain stable despite any correction, cant see that being the same in ryde.

Commenter

Gee up

Location

Date and time

June 23, 2014, 12:18PM

JohnBB,So lets pretend you own some property and you want to sell it. According to you, you don't want to see any Chinese investors to offer you the highest possible price; you'd prefer to get less money for your property?

or, you only want Australian, UK, EU or Indonesians buying your property but not Chinese?and how do you know these "Chinese" aren't from Singapore, malaysia or some other country than China?

Commenter

Econorat

Location

Sydney

Date and time

June 23, 2014, 12:25PM

australia is doing what the usa is doing. both countries have declining birth rates. lowest in history. the only thing keeping both countries going is massive immigration. for the record Indian immigration to Australia far exceeded China.apparently we ( the world ) are growing at 80 million people per year. darling square sydney sold out off the plan over the weekend.

Commenter

smilingjack

Location

Date and time

June 23, 2014, 12:55PM

@Econorat...Not sure I said anything like that....I don't want any foreign ownership that takes any houses out of the pool and drive up prices. If you ask most Australians they'd agree. There's a law because of it...All I want is that law be adhered to...Not so much to ask is it?

Commenter

JohnBB

Location

Date and time

June 23, 2014, 1:16PM

JohnBB, I'd happily vote to stop it, but which party is suggesting they would stop it?

Commenter

Gareth

Location

Sydney

Date and time

June 23, 2014, 2:01PM

JohnBB,No difference to a farm or a house or a business. Australia has been open to foreign buyers for 200 years.It's just that the mix has changed on who the buyers are, but is that a problem or is there a racial tone to your message?Our biggest investors still remain the US & UK peoples.i remember all the whingers out there when the Japanese were buying up resorts. It actually meant fantastic prices for sellers, more people employed and eventually we bought it back cheaper from them.

Commenter

Econorat

Location

Sydney

Date and time

June 23, 2014, 3:07PM

@Gareth...Just look for it come the election...Demand your local member support the laws of Australia....Hockey's the minister for responsible for FIRB...What's he doing about it? NOTHING. Both LNP and Labor want the FIRB to do NOTHING and that's exactly what they're doing. A government in the future will hold them all responsible for what they're doing to Australia.

Commenter

JohnBB

Location

Date and time

June 23, 2014, 3:13PM

@Econorat...."foreign buyers for 200 years"....That's right and now it's really starting to hurt Australians....."racial tone to your message?"....No. I've always been against the foreign ownership..If you were looking at my ethnic face you wouldn't be accusing me of that....You sure you're not a convenient non-racist? It seems to suit the pretend left wing to be so PC while selling us out. We're onto you.

Commenter

JohnBB

Location

Date and time

June 23, 2014, 3:30PM

JohnBB,The greatest benefit to all Australians and to have a rising living standard is for free and open trade with all nations.Simple economics 101.No exceptions and that includes property.

Commenter

Econorat

Location

Sydney

Date and time

June 23, 2014, 4:15PM

@Econorat...."The greatest benefit to all Australians and to have a rising living standard is for free and open trade with all nations.Simple economics 101.".....

It's very clear that's proving wrong because per capita GDP is now going backwards. It was all made up to suit a couple of generations that wanted to spend it all at the huge expense to their own offspring.... The theory was never real... Just make believe BS. Proven as we speak.

Commenter

JohnBB

Location

Date and time

June 23, 2014, 4:46PM

There is no free trade with China and Indonesia in property because you cannot buy property in either.